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Connecticut
Aircraft Lease Agreement with Option to Purchase

Connecticut Aircraft Lease Agreement with Option to Purchase

Category:

Leases - Aircrafts

State:

Multi-State

Control #:

US-02501BG

Format:

Instant download

Description

Under the Federal Aviation Act of 1958, any conveyance that affects the title to, or any interest in, any civil aircraft of the United States must be acknowledged and recorded with the Administrator of the Federal Aviation Administration in the manner prescribed by statute. After such an instrument is recorded, it is valid as to all persons without recording and regardless of notice.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

The three main types of aircraft include fixed-wing aircraft, rotary-wing aircraft, and unmanned aerial vehicles (UAVs). Fixed-wing aircraft are the most common, designed for speed and range. Rotary-wing aircraft, like helicopters, offer vertical lift capabilities. UAVs are increasingly popular for various applications, including surveillance and delivery.

leaseback gives you greater flexibility to control the tax consequences of your aircraft operations. It can also provide a method of financing, free up the equity tied up in the aircraft, and improve your balance sheet.

Airlines lease aircraft from other airlines or leasing companies for two main reasons: to operate aircraft without the financial burden of buying them, and to provide temporary increase in capacity.

Financial flexibility. Under normal circumstances, leasing allows airlines to reduce their indebtedness. This allows for better cash retention and greater financial agility. Paying a small fraction of the aircraft's value each month is a vital part of many airline strategies.

Leasing an aircraft has several clear benefits, chief among them affordability. Not only do you forgo the upfront cost of purchasing a jet outright, but the cost of ongoing ownership is also much lower. This means more cash on hand in the immediate, as well as over the long-term.

The differences between wet-lease and dry-lease aircraftsIn a wet-lease situation, the lessor maintains operational control of all flights whilst providing aircraft and crew, whereas with dry-lease the lessee provides its own crew and exercises control.

Dry lease: In a dry lease, the owner provides the aircraft to the lessee without a crew. Neither party is required to have an air carrier certificate so long as the aircraft does not carry people or property for compensation or hire.

The industry has two main leasing types: wet-leasing, which is normally used for short-term leasing, and dry-leasing which is more normal for longer-term leases.

The Bottom Line Plane owners can save some money by doing the maintenance themselves, hunting for the best insurance quote, and storing their plane at the cheapest airport. But there's no denying it: owning your own plane will cost you more money than renting.

Part 91. With a dry lease, an aircraft owner/lessor leases an aircraft to a lessee/operator without a crew. Neither the lessor nor the lessee is required to hold a charter certificate. In a dry lease situation, the lessee provides its own crew and exercises operational control of its flights.